Entropy Technologies LP Acquires Shares of 15,127 Ameriprise Financial, Inc. $AMP

Entropy Technologies LP acquired a new position in shares of Ameriprise Financial, Inc. (NYSE:AMP) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 15,127 shares of the financial services provider’s stock, valued at approximately $7,431,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CreativeOne Wealth LLC lifted its position in shares of Ameriprise Financial by 2.3% during the second quarter. CreativeOne Wealth LLC now owns 932 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 21 shares during the last quarter. Rexford Capital Inc. increased its holdings in Ameriprise Financial by 20.6% in the third quarter. Rexford Capital Inc. now owns 123 shares of the financial services provider’s stock valued at $60,000 after buying an additional 21 shares during the last quarter. Dakota Community Bank & Trust NA increased its holdings in Ameriprise Financial by 2.4% in the third quarter. Dakota Community Bank & Trust NA now owns 942 shares of the financial services provider’s stock valued at $463,000 after buying an additional 22 shares during the last quarter. WealthTrust Asset Management LLC raised its stake in Ameriprise Financial by 1.5% during the second quarter. WealthTrust Asset Management LLC now owns 1,565 shares of the financial services provider’s stock valued at $835,000 after buying an additional 23 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Ameriprise Financial by 0.8% during the third quarter. UMB Bank n.a. now owns 3,062 shares of the financial services provider’s stock valued at $1,504,000 after buying an additional 23 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Insider Transactions at Ameriprise Financial

In other Ameriprise Financial news, CEO William F. Truscott sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $532.08, for a total transaction of $2,660,400.00. Following the completion of the transaction, the chief executive officer directly owned 12,149 shares of the company’s stock, valued at $6,464,239.92. The trade was a 29.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gumer Alvero sold 4,658 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $542.88, for a total transaction of $2,528,735.04. Following the completion of the transaction, the insider owned 4,621 shares of the company’s stock, valued at approximately $2,508,648.48. This trade represents a 50.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 16,658 shares of company stock worth $8,998,675. Insiders own 0.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $605.00 target price (up from $580.00) on shares of Ameriprise Financial in a research report on Monday, February 2nd. Piper Sandler raised Ameriprise Financial from an “underweight” rating to a “neutral” rating and upped their price target for the company from $434.00 to $530.00 in a research report on Friday, January 30th. Argus decreased their price objective on shares of Ameriprise Financial from $568.00 to $554.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Raymond James Financial set a $582.00 target price on shares of Ameriprise Financial and gave the company a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Ameriprise Financial in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ameriprise Financial presently has a consensus rating of “Hold” and a consensus price target of $555.67.

Ameriprise Financial Stock Down 2.5%

Shares of Ameriprise Financial stock opened at $439.51 on Friday. The stock has a market capitalization of $40.07 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.05 and a beta of 1.27. Ameriprise Financial, Inc. has a twelve month low of $396.14 and a twelve month high of $550.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.86. The business’s 50 day simple moving average is $492.60 and its 200-day simple moving average is $485.65.

Ameriprise Financial (NYSE:AMP) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $10.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.33 by $0.50. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.75 billion. Ameriprise Financial had a return on equity of 63.04% and a net margin of 19.28%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.54 EPS. Equities research analysts forecast that Ameriprise Financial, Inc. will post 38.64 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 9th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $6.40 annualized dividend and a dividend yield of 1.5%. Ameriprise Financial’s payout ratio is 17.60%.

Ameriprise Financial Profile

Ameriprise Financial, Inc is a diversified financial services company headquartered in Minneapolis, Minnesota. The firm provides a range of advice-based wealth management, asset management and insurance products to individual and institutional clients. Its business model centers on delivering financial planning and investment advice through a network of financial advisors alongside proprietary product offerings designed to meet retirement, protection and accumulation needs.

Core products and services include comprehensive financial planning and advisory services, managed investment portfolios, retirement planning solutions, annuities and life insurance products.